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Case A B 6300

Incomplete manufacturing costs, expenses, and selling data for two different cases
are as follows

Case A

Case B

Direct
materials used

6,300

$ (g)

Direct labor

3,000

4,000

Manufacturing
overhead

6,000

5,000

Total
manufacturing costs

(a)

16,000

Beginning
work in process inventory

1,000

(h)

Ending
work in process inventory

(b)

2,000

Sales
revenue

22,500

(i)

Sales
discounts

1,500

1,200

Cost
of goods manufactured

15,800

20,000

Beginning
finished goods inventory

(c)

5,000

Goods
available for sale

18,300

(j)

Cost
of goods sold

(d)

(k)

Ending
finished goods inventory

1,200

2,500

Gross
profit

(e)

6,000

Operating
expenses

2,700

(l)

Net income

(f)

2,200

(a) Indicate the missing amount for each letter.
(b) Prepare a condensed cost of goods manufactured schedule for Case A.
(c) Prepare an income statement and the current assets section of the balance sheet for
Case A. Assume that in Case A the other items in the current assets section are as follows:
Cash $3,000, Receivables (net) $10,000, Raw Materials $700, and Prepaid Expenses $200.